Sydney’s new apartment market recorded 227 sales from a sample of 19% of the market in the December 2017 quarter, according to new research released today by leading property consultants, Urbis.
The Inner South precinct recorded the majority of sales at 44% of total sales in the quarter, followed by the North West Middle Ring (25%) and Inner West (15%).
Two-bedroom, two-bathroom was the best-selling product this quarter, making up 44% of total sales compared to 32% in the previous quarter. Alex Stuart, Associate Director of Property Economics and Research, noted that this might be explained by the rise in owner-occupier sales in the December 2017 quarter, with 51% of sales being to owner-occupiers compared to 34% in the previous quarter.
“Once again, the Sydney market was a predominately local market this quarter, with owner-occupiers and local state investors accounting for three-quarters of total sales,” said Mr Stuart.